Tag Archives: Credit card

September 14, 2010Comments Off on Visa: Finance reform affects 16 pct of revenue

The part of financial reform that requires limiting the fees charged to merchants when customers use debit cards will likely effect just a small portion of Visa Inc. revenue, the payment processor’s finance chief said Tuesday. CFO Byron Pollitt said ...

Consumer borrowing fell again in July as U.S. households cut back on their credit card use for a 23rd consecutive month, adding more drag on an economy struggling to mount a sustained rebound. Borrowing dropped at an annual rate of ...

September 1, 2010Comments Off on Schumer asks Fed to police biz card marketing

U.S. Sen. Charles Schumer called on the Federal Reserve Wednesday to step in to help individuals avoid opening corporate credit cards that come with fewer protections than cards meant for consumers. Schumer, in a letter, asked Fed Chairman Ben Bernanke ...

August 25, 2010Comments Off on Credit card debt at lowest level in 8 years

The amount consumers owed on their credit cards dropped to its lowest level in eight years, as cardholders continued to pay off balances in the uncertain economy. The average combined debt for bank-issued credit cards – those with a MasterCard ...

July 20, 2010Comments Off on Schumer pushes for credit card protections

Two lawmakers in Congress are prodding the Federal Reserve to provide more protection so credit card users don’t get socked by exorbitant interest rates when they fall behind on their payments. “Credit card companies can still double or triple the ...

A Long Island shoe store employee is accused of stealing security information from customers’ credit cards and making duplicate cards. Police say the cashier at a Bellmore Payless store used a “skimming” device to scan the magnetic strip of security ...

While banks burdened with debt attracted attention as the nation plunged into a recession, consumer debt more quietly has reached massive proportions. There are more credit and debit cards than there are Americans, including 309 million Visa credit and 352 ...